Crypto Today: Bitcoin, Ethereum, XRP technicals deteriorate amid war-driven risk-off sentiment

Bitcoin (BTC) edges lower below $67,000 at the time of writing on Thursday, reflecting the risk-off sentiment in the broader cryptocurrency market driven by the Iran war.

Ethereum (ETH) follows suit, with the price slipping toward the pivotal $2,000 level, while XRP declines, nearing support at $1.30. The risk-off sentiment gripping the market has spread, as evidenced by capital exiting digital investment products.

Bitcoin, Ethereum, XRP face capital exit amid ETF outflows

Interest in crypto investment products has remained shaky amid the United States (US) and Israel’s war with Iran, which is now in its second month. US President Donald Trump claimed military success on Wednesday, even as the war rages on.

Meanwhile, Iran is widening its attacks, with Gulf nations reporting fresh missile and drone attacks on Thursday. Risk assets, including crypto and stocks, are slipping lower, amid pressured conditions as risk-off sentiment persists, while Oil prices surge.

West Texas Intermediate (WTI) Oil price is back above $100, after hitting a daily low below $93. Further escalation of the war could see Oil prices surge, driving macroeconomic uncertainty.

Interest in Bitcoin spot Exchange-Traded Funds (ETFs) wobbled on Wednesday, with outflows totaling nearly $174 million, which broke a two-day bullish streak that had seen inflows of approximately $69 million on Monday and nearly $118 million on Tuesday.

Cumulative inflows stand at $55.95 billion, with net assets under management at $87.71 billion. If outflows persist, they would suggest that sentiment is deteriorating, limiting Bitcoin’s potential recovery.

Ethereum ETFs exhibit a similar outlook to Bitcoin, with spot ETFs recording outflows of roughly $7 million on Wednesday. SoSoValue data shows that US-listed ETFs had turned around, attracting roughly $5 million and $31 million in inflows on Monday and Tuesday, respectively. Cumulative inflows stand at $11.55 billion, with net assets under management at $12.21 billion.

Interest in XRP ETFs has deteriorated further, as evidenced by mild outflows of $1.32 million on Wednesday following muted activity on Tuesday. XRP ETFs also recorded outflows of roughly $2.3 million on Monday, undermining risk appetite.

Chart of the day: Bitcoin edges lower amid weakening technicals

Bitcoin (BTC) is trading between $66,000 and $67,000 amid a mildly bearish momentum. The price holds well below the clustered 50-day, 100-day and 200-day Exponential Moving Averages (EMAs), which all descend and cap the upside. The prolonged respect of the downward-sloping resistance trendline keeps the broader structure pressured.
Meanwhile, the Moving Average Convergence Divergence (MACD) indicator is below its signal line on the daily chart, suggesting persistent downside momentum. The Relative Strength Index (RSI) is at 43 points, in sub-50 bearish territory on the same chart, but avoids oversold conditions, consistent with a grinding correction rather than capitulation.

Bitcoin's immediate support emerges near $66,000, the recent closing base, with a break exposing the next downside area around $65,000, where prior reaction lows cluster. Below that, deeper weakness could target the $62,300 area as the next logical technical floor. On the upside, initial resistance aligns with $68,300–$68,500, followed by the 50-day EMA around $70,800. A daily close above $71,800 would be needed to challenge the 100-day EMA at $76,409.

Altcoins technical update: Ethereum and XRP pressured as declines extend

Ethereum is trading above the $2,000 pivotal level after correcting from its week's high of $ 2,168. The near-term bias is mildly bearish as price holds below the clustered 50-day, 100-day and 200-day EMAs, which all track well above $2,150 and frame a dominant medium-term downtrend.

The long-standing descending resistance trendline continues to cap the broader structure despite the recent bounce, while the MACD indicator remains below its signal line on the daily chart, suggesting weak downside momentum rather than an impulsive selloff. At the same time, the RSI around the mid-40s on the same chart reinforces a lack of strong buying interest and aligns with a soft, corrective tone within a broader bearish context.

Ethereum's initial resistance emerges near $2,140, where recent swing highs converge with the 50-day EMA. A break above that supply range would expose the next hurdle at $2,200, followed by $2,350. On the downside, immediate support is seen around $2,000, guarding the mid-$1,900s congestion band. A clear drop through $1,900 would reopen the path toward $1,850 as the next lower support area.

As for XRP, its near-term bias is mildly bearish, as price holds below the descending resistance trend line, which was last rejected near $1.61, and continues to compress under it. Daily closes remain well below the 50-day, 100-day, and 200-day EMAs, which are clustered between roughly $1.44 and $1.87, reinforcing a dominant downside context despite the recent stabilization.
The MACD indicator is below its signal line and has slipped back under the zero line on the daily chart, with red histogram bars, suggesting sellers retain momentum. Moreover, the RSI at 38 on the same chart signals weak demand and aligns with a market leaning toward downside continuation rather than a sustained bounce.

XRP's initial resistance aligns with recent reaction highs around $1.34, followed by $1.36 and then $1.41, where prior daily peaks coincide with proximity to the declining short-term average band. A daily close above $1.41 would be needed to ease bearish pressure and open the way toward the stronger cap at $1.45. On the downside, immediate support is at the current trough zone near $1.30, with a break lower exposing $1.28 as the next bearish target.

(The technical analysis of this story was written with the help of an AI tool.)